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of growth that i hope we can have with a bigger consolidation, that one is being proposed by speaker boehner. >> thank you. >> i would like to focus on something that is probably more of interest to the economists and ordinary people. let's talk about ratios. what i heard you lay out, dr. zandi, was more of an ideal situation. they get you at roughly at $3 trillion. deficit-reduction over the course of 10 years. you went on to add the $1.20 trillion over last year's negotiations on the debt ceiling. the negotiations over last year's debt ceiling -- the new number would really be 1-1. that is not actually my question. i want to get to now. we have looked at the president's offer. we haven't found any spending reductions at all. we found the $1.6 trillion tax increases. the stimulus spending,we saw the extension of the unemployment insurance, which is an increase in spending. the delay in the spending cuts whatsoever. do you think the president's current offer gives us the 2-1 test? >> no. it is short. he needs to come up with roughly $600 billion more in spending cuts over the next 10 years.
of growth that i hope we can have with a bigger consolidation, that one is being proposed by speaker boehner. >> thank you. >> i would like to focus on something that is probably more of interest to the economists and ordinary people. let's talk about ratios. what i heard you lay out, dr. zandi, was more of an ideal situation. they get you at roughly at $3 trillion. deficit-reduction over the course of 10 years. you went on to add the $1.20 trillion over last year's negotiations on...
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outline the president's proposal, speaker boehner rosie proposal -- speaker boehner's proposal. how can we get people employed and move our economy whoforward? >> i apologize. there will be a fair amount of numbers here. the president's tax revenue proposal amounts to about $1.6 trillion over eight 10 year -- a 10-year period. that is from higher tax rates. roughly 600 billion are from some kind of tax reform. they are all reasonably good proposals. speaker boehner's proposal on revenue -- is roughly $800 billion in tax reform. we are about $800 billion apart on taxes. my view is that we should roughly split the difference. i would suggest $1.4 trillion in tax revenue. $700 billion would come through tax reform. we can discuss what that might look like. $700 billion would come from higher tax rates. the president would scale back one chilean dollars. -- one trillion dollars. we can talk about that. on the spending side, -- does 600,000 -- speaker boehner has come forward with some proposals. i'm not quite clear on how much the spending cuts he has proposed. the president's propo
outline the president's proposal, speaker boehner rosie proposal -- speaker boehner's proposal. how can we get people employed and move our economy whoforward? >> i apologize. there will be a fair amount of numbers here. the president's tax revenue proposal amounts to about $1.6 trillion over eight 10 year -- a 10-year period. that is from higher tax rates. roughly 600 billion are from some kind of tax reform. they are all reasonably good proposals. speaker boehner's proposal on revenue...
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speaker boehner has come forward with some proposals. i'm not quite clear on how much the spending cuts he has proposed. the president's proposal is short. to get to where we need to go, that $3 trillion target and fiscal stability, we need $1.2 trillion in spending cuts. that should be part of the process. we should do some things to reform social security. after the end of the day, it needs to be almost double of what he is proposing. if you sit down and do the arithmetic of spending cuts and look at medicare and medicaid, unless you're proposing a big and structural change in the program, which i do not think is on the table at the moment, it is difficult to get that cut. it is really tough. if you do a run rate of about $600 billion in cuts, that is ok. bottom line -- fiscal sustainability at the end of this 10-yeariz
speaker boehner has come forward with some proposals. i'm not quite clear on how much the spending cuts he has proposed. the president's proposal is short. to get to where we need to go, that $3 trillion target and fiscal stability, we need $1.2 trillion in spending cuts. that should be part of the process. we should do some things to reform social security. after the end of the day, it needs to be almost double of what he is proposing. if you sit down and do the arithmetic of spending cuts and...
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Dec 10, 2012
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caller: john boehner is sending forth a plan. speaker boehner have ideas aboutthere is some distance betweenboth sides are looking for ways to compromise. caller: ok. am i understand this correctly? the pentagon made sequester 13%. is that correct? guest: the bill is about $54 billion. at is the number the pentagon has to take out of their 2013. that is about 9.4% of the budget. caller: ok, thanks. host: troy in pittsburgh. this out before the war got started. they did were bonds and raised -- they did war bonds and raise taxes after world war i. this war is still going on. overseas. guest: everything started with 9/11, and that was thrust upon us with a horrible attack. now we are at war and we have to fight these things. there wasn't a lot of thinking about how to pay for this. we did were bonds -- war bonds in the past. we continue to lower taxes and to fight the wars at the same time. host: looking at contracts in november, the foreign military fail program. what is the -- foreign military sales program. guest: we provide the
caller: john boehner is sending forth a plan. speaker boehner have ideas aboutthere is some distance betweenboth sides are looking for ways to compromise. caller: ok. am i understand this correctly? the pentagon made sequester 13%. is that correct? guest: the bill is about $54 billion. at is the number the pentagon has to take out of their 2013. that is about 9.4% of the budget. caller: ok, thanks. host: troy in pittsburgh. this out before the war got started. they did were bonds and raised --...
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Dec 9, 2012
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outline the president's proposal and speaker boehner's proposal. how can we get people employed and move our economy forward? >> i apologize. there will be a fair amount of numbers here. revenueident's tax proposal amounts to about $1.6 trillion over a 10-year period. that is from higher tax rates. roughly 600 billion are from some kind of tax reform. they are all reasonably good proposals. speaker boehner's proposal on revenue -- is roughly $800 billion in tax reform. we are about $800 billion apart on taxes. my view is that we should roughly split the difference. i would suggest $1.4 trillion in tax revenue. $700 billion would come through tax reform. we can discuss what that might look like. $700 billion would come from higher tax rates. the president would scale back one trillion dollars. we can talk about that. on the spending side -- does 600,000 -- speaker boehner has come forward with some proposals. i'm not quite clear on how much the spending cuts he has proposed. the president's proposal is short. to get to where we need to go, that $3 t
outline the president's proposal and speaker boehner's proposal. how can we get people employed and move our economy forward? >> i apologize. there will be a fair amount of numbers here. revenueident's tax proposal amounts to about $1.6 trillion over a 10-year period. that is from higher tax rates. roughly 600 billion are from some kind of tax reform. they are all reasonably good proposals. speaker boehner's proposal on revenue -- is roughly $800 billion in tax reform. we are about $800...
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outline the president's proposal and speaker boehner's proposal. how can we get people employed and move our economy forward? >> i apologize. there will be a fair amount of numbers here. the president's tax revenue proposal amounts to about $1.6 trillion over a 10-year period. that is from higher tax rates. roughly 600 billion are from some kind of tax reform. they are all reasonably good proposals. speaker boehner's proposal on revenue -- is roughly $800 billion in tax reform. we are about $800 billion apart on taxes. my view is that we should roughly split the difference. i would suggest $1.4 trillion in tax revenue. $700 billion would come through tax reform. we can discuss what that might look like. $700 billion would come from higher tax rates. the president would scale back one trillion dollars. we can talk about that. on the spending side -- does 600,000 -- speaker boehner has come forward with some proposals. i'm not quite clear on how much the spending cuts he has proposed. the president's proposal is short. to get to where we need to go,
outline the president's proposal and speaker boehner's proposal. how can we get people employed and move our economy forward? >> i apologize. there will be a fair amount of numbers here. the president's tax revenue proposal amounts to about $1.6 trillion over a 10-year period. that is from higher tax rates. roughly 600 billion are from some kind of tax reform. they are all reasonably good proposals. speaker boehner's proposal on revenue -- is roughly $800 billion in tax reform. we are...
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boehner's. the idea -- i would be terribly upset, along with many of my friends, if obama compromised too much on what needs to happen that is called the fiscal cliff. >> do you think a prominent third-party web help our country? >> i felt strongly about that when i supported john anderson in 1979. he was -- a large part of anderson's campaign was to sue the state ballot procedure into allowing third parties to have more access to the electoral process. i would like to see a third party available, but that, too, seems like a really tall order. >> what do you think is the appropriate role for actors and celebrities to play in the political arena up to? >> i think if you are a a really motivated committed citizen who feels very strongly about either an issue or a candidate, you get involved. you go out and do it regardless of what it means. as i said, i have got this long history as a yellow-dog democrat liberal, and i do not think anyone is surprised to see me, and i think my republican friends t
boehner's. the idea -- i would be terribly upset, along with many of my friends, if obama compromised too much on what needs to happen that is called the fiscal cliff. >> do you think a prominent third-party web help our country? >> i felt strongly about that when i supported john anderson in 1979. he was -- a large part of anderson's campaign was to sue the state ballot procedure into allowing third parties to have more access to the electoral process. i would like to see a third...